The auto sector, which had been struggling with depleted inventories during the pandemic, is now dealing with a sales crisis. Car sales have been softening this year because of inflation, weak consumer confidence, and growing concerns about the economy. Despite the fact that cars have become more widely available with supply chain bottlenecks easing, a…
US Auto Market Facing Lowest Sales in a Decade
October 8, 2022
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On the Path to Hyperinflation
October 7, 2022
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Commentary I have had a series of conversations lately on how did we, the world, get to this point? I think that it’s a valid question, considering how well things were in the 1990s after the Soviet Union had collapsed. The really interesting follow-up question is: Has this deterioration been a series of mere random…
The Eurodollar Is What’s Happening—Not Quantitative Tightening or Rate Hikes
October 6, 2022
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Commentary What is wreaking so much havoc all over the world? You’ve probably heard that the U.S. dollar is rising often precipitously, which means any currencies caught on the other side of it—frankly, all of them—are being swept into crisis. This isn’t the first time, either, because during the last eight years or so this…
Wall Street Expects Second-Biggest Home Price Drop Since Great Depression
October 6, 2022
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Top investment firms, including Morgan Stanley, are predicting a significant drop in U.S. home prices amid high mortgage rates, elevated home prices, and affordability challenges. Morgan Stanley is calculating home prices to dip by 7 percent by the end of 2023, which is more than twice as large as the 3.1 percent peak-to-trough decline seen…
United Nations Warns of Looming Global Recession Sparked by ‘Excessive’ Monetary Tightening
October 5, 2022
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The United Nations (UN) on Monday warned that a global recession and prolonged stagnation lie ahead, driven by the monetary and fiscal policies of advanced economies, including that of the U.S. Federal Reserve. In its Trade and Development (UNCTAD) report, the international body warned that all regions of the globe would be affected by a recession, but stressed…
Experts Warn Homebuyers of Red Flags Beyond Climbing Interest Rates
Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family home. While the current landscape has changed due to…
Have the Markets Found a Bottom?
October 1, 2022
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While the fourth quarter has only just begun, the end of the year can’t come fast enough for Wall Street. The year 2022 has been disastrous for investors. The Dow Jones Industrial Average is down 22 percent, the S&P500 has fallen 25 percent, and the NASDAQ Composite has dropped a whopping 33 percent for the…
From Pandemic Relief to Transitory Inflation, How Did the Federal Reserve Get to This Point?
September 30, 2022
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The Federal Reserve is on an inflation-busting campaign. During the September meeting of the Fed’s policy-making arm, the Federal Open Market Committee (FOMC), the committee’s members raised the benchmark federal funds rate by 75 basis points, to a target range of 3.0–3.25 percent, the highest level since 2008. According to the dot-plot—a survey of…
Revised GDP Data Confirm US Economy Fell Into ‘Technical Recession’ in First Half of 2022
September 29, 2022
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The U.S. economy contracted for two consecutive quarters this year, according to a revised government report, which technically meets the criteria for a recession. The third and final update was released on Sept. 29 by the Bureau of Economic Analysis, as rising inflation and higher interest rates weighed on consumer spending. U.S. gross domestic product…
The Story Behind the Global Bond Market Rout—and Whether It Will Continue Into 2023
It has been a year to forget for global financial markets, and there is still another quarter to go in 2022. While stocks have captured most of the selloff attention this year, even safe-haven assets have plummeted, including the international bond market, which has experienced the worst performance in several decades. According to Bank of…
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